[ad_1]
Bengaluru-based Indian regional language social platform ShareChat has acquired video manufacturing firm HPF Movies, which specialises in digital content material.
With this, the 25 member group from HPF Movies have joined ShareChat. They are going to be contributing in the direction of content material operations, digital advertising and marketing, inventive options and creator administration for each ShareChat and its quick video app Moj. The acquisition will assist Sharechat and Moj to strengthen its content material ecosystem, increase promoting options for manufacturers and create a stronger creator fraternity.
Commenting on the identical, Sharechat’s VP of company growth and strategic finance, Manohar Charan, mentioned, “This acquisition will help us build a framework for our creators and nurture them to evolve as influencers on the platform. Moreover, HPF’s strength on the creative side will also help us in creating innovative, high performing advertising solutions for the brands looking at engaging with our audiences.”
Bengaluru-based HPF Movie was based by Navin Lalwani, Vis Hal and Anushank Jain in 2018. The corporate has developed its video manufacturing and content material capabilities throughout 12 Indian languages and owns greater than 100 channels throughout a number of digital platforms. It additionally has a community of practically 120 collaborating artists.
Sharechat was based by IIT-Kanpur alumni Farid Ahsan, Bhanu Singh and Ankush Sachdeva in 2015. It’s a regional language-focussed social media platform which banks closely on user-generated content material. It boasts options like nameless chat, direct messaging, unique video content material beneath the banner of ShareChat Talkies.
The corporate was additionally part of 2018 version of essentially the most coveted checklist of India’s most progressive startups — 42Subsequent by Inc42. After the financial institution on Chinese language apps like Sharechat, TikTok and others, Sharechat has recorded a spike within the variety of customers as effectively. The corporate has additionally launched its personal variant of TikTok app referred to as Moj to capitalise on the void left available in the market.
Media experiences additionally recommend that Sharechat could quickly enter the unicorn membership after elevating $100 Mn from International tech large Microsoft. Total, the corporate is reportedly seeking to elevate $300 Mn on this spherical from different marquee buyers.
The corporate’s final funding spherical was in August 2019, when it raised $100 Mn in a Sequence D spherical led by Twitter. Current buyers Shunwei Capital, Lightspeed Enterprise Companions, SAIF Capital, India Quotient and Morningside Enterprise Capital had additionally participated within the spherical. That funding pegged the corporate’s valuation at $650 Mn.
The newest acquisition comes practically a month after ShareChat acquired hyperlocal info platform Circle Web to spice up a community-powered content material ecosystem. The corporate was backed by SAIF Companions and Enterprise Freeway.
Circle gives regionally related info to Indian language web customers. It’s current for customers in 120 districts throughout Rajasthan, Uttar Pradesh and Kerala, and gives info in Hindi and Malayalam. It was based in 2018 by three IIT-ians Uchit Kumar, Gaurav Agrawal, and Shashank Shekhar.
[ad_2]
